Brokerages Set The Honest Company, Inc. (NASDAQ:HNST) PT at $6.96

Shares of The Honest Company, Inc. (NASDAQ:HNST) have received an average recommendation of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $6.9583.

HNST has been the topic of several analyst reports. Morgan Stanley reduced their price target on shares of Honest from $5.50 to $4.25 and set an “equal weight” rating on the stock in a research report on Friday, August 15th. Telsey Advisory Group reduced their price target on shares of Honest from $7.00 to $6.00 and set a “market perform” rating on the stock in a research report on Thursday, August 7th.

Hedge Funds Weigh In On Honest

Institutional investors have recently modified their holdings of the business. Summit Securities Group LLC boosted its stake in Honest by 6,101.8% in the first quarter. Summit Securities Group LLC now owns 6,822 shares of the company’s stock valued at $32,000 after acquiring an additional 6,712 shares in the last quarter. Strategic Blueprint LLC purchased a new position in Honest during the second quarter worth about $52,000. DRW Securities LLC purchased a new position in Honest during the first quarter worth about $58,000. State of Wyoming purchased a new position in Honest in the second quarter valued at about $61,000. Finally, Ethos Financial Group LLC purchased a new position in Honest in the second quarter valued at about $62,000. Institutional investors and hedge funds own 45.54% of the company’s stock.

Honest Price Performance

Shares of Honest stock opened at $3.66 on Friday. The stock has a market cap of $407.25 million, a P/E ratio of 73.21 and a beta of 2.34. The stock’s 50 day simple moving average is $4.56 and its 200-day simple moving average is $4.90. Honest has a 1-year low of $3.32 and a 1-year high of $8.97.

Honest (NASDAQ:HNST) last issued its earnings results on Wednesday, August 6th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). The company had revenue of $93.46 million for the quarter, compared to analyst estimates of $92.18 million. Honest had a return on equity of 3.84% and a net margin of 1.66%. As a group, research analysts expect that Honest will post -0.07 EPS for the current fiscal year.

About Honest

The Honest Company, Inc manufactures and sells diapers and wipes, skin and personal care, and household and wellness products. The company also offers baby clothing and nursery bedding products. It sells its products through digital and retail sales channels, such as its website and third-party ecommerce sites, as well as brick and mortar retailers.